Credit cards, debit cards and other types of payment devices are quickly replacing traditional methods of payment including cash and check. For many, the convenience of carrying a single card that provides access to needed funds outweighs any of the advantages of carrying cash or a checkbook. However, under current industry regulations, many individuals such as minors are not permitted to have payment devices such as debit cards. One concern that has led to such regulations is the fear that a minor will frequently overspend or overdraw his or her account. Thus, parents and/or guardians of such individuals often need to withdraw cash from their accounts so that the individuals may make a purchase or conduct some other financial transaction. Alternatively, the parents or guardians may need to make the desired transaction themselves for the individuals. Cash or gift cards are another option but are susceptible to loss (i.e., if the cash or gift card is lost, the funds are also lost).